By investing in BluSmart, a ride-hailing firm located in Gurugram that only employs electric vehicles (EVs), former Indian cricket captain MS Dhoni has once again shown his forward-thinking approach in a world where sustainability is becoming increasingly important. He has made at least three investments in the automotive industry, having previously made stakes in used vehicle dealer Cars24 and electric bike manufacturer EMotorad. This article explores BluSmart’s growth trajectory, relevance of Dhoni’s investment, and possible influence on the urban transportation scene.
MS Dhoni’s Portfolio of Strategic Investments
Not only is MS Dhoni recognised as one of the greatest cricket captains of all time, but he is also a savvy investor. His interest in novel and sustainable company ideas is evident in his investing portfolio. In addition to BluSmart, Dhoni owns shares in EMotorad, an electric cycle manufacturer, and Cars24, a well-known used vehicle dealer. Furthermore, he has provided support to Khatabook, an online lending platform that has seen significant growth in India.
History of BluSmart
BluSmart was founded in 2019 and is the creation of Anmol Singh Jaggi, Puneet Singh Jaggi, and Punit K. Goyal. The firm offers a ride-hailing service that only utilises electric cars in an effort to revolutionise urban transportation. BluSmart’s fleet is all electric, in contrast to other conventional ride-hailing services like Ola and Uber, which mostly depend on internal combustion engine (ICE) cars. BluSmart’s distinctive selling point has established the company as a leader in the environmentally friendly transportation industry.
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BluSmart’s Goals for Growth
To strengthen its position in the ride-hailing industry, BluSmart has set ambitious expansion goals. The firm is currently active in Bengaluru, New Delhi, Gurugram, and Noida. BluSmart debuted its first international service in June 2024 in Dubai, where it provided a fleet of all-electric limousines. By the end of 2024, the business plans to join the Mumbai market. In December 2023, BluSmart’s co-founder Punit Goyal informed CNBC-TV18 that the company had achieved an annual revenue run rate of ₹550 crore, or $65,5 million.
Competitive Environment
It’s critical to evaluate BluSmart’s expansion in light of other ride-hailing sector participants. Ola, which was established in 2010, is apparently aiming for an IPO price of more than $7 billion. But by February 2024, one of Ola’s investors had lowered the company’s valuation to $1.9 billion, underscoring the market’s fierce competition and volatility. BluSmart has a clear competitive advantage over its rivals thanks to its distinctive focus on sustainability and electric vehicles.
Why It Matters What Dhoni Investment
MS Dhoni’s choice to invest in BluSmart is a statement of his dedication to supporting ethical and cutting-edge business methods, not just a financial one. Investing in BluSmart’s sustainable business strategy is an opportunity to join a movement that is reshaping the mobility industry, not merely to support a company. “I am thrilled to support BluSmart’s innovative efforts in reshaping urban transport in a world where innovation drives sustainable choices,” Dhoni said. His support gives BluSmart a great deal of legitimacy and exposure, which might draw in more investors and clients.
Impact on the Development of Sustainable Transportation
An important factor in determining how sustainable transport develops in the future is investors. They allow businesses such as BluSmart to grow and develop their creative ideas by giving them the funding and assistance they require. The participation of well-known investors like MS Dhoni contributes to the greater understanding of the value of sustainability in the transportation industry. The trend towards a more environmentally friendly future is anticipated to pick up steam as more investors become aware of the possibilities of EVs and other eco-friendly technology.
Conclusion
The promotion of creative and sustainable mobility solutions is greatly aided by Mahendra Singh Dhoni’s investment in BluSmart. BluSmart is a pioneer in the eco-friendly mobility industry and stands out from other established competitors in the market because to its dedication to employing electric cars for its ride-hailing services. BluSmart has a great financial foundation and Dhoni’s support, which will allow it to grow and transform urban transit in India and beyond.
Disclaimer: The information provided in this article is based on publicly available sources and may not be 100% accurate.
